I am in the process of digesting HMDA 2008 data released last week which includes for information on more than 250,000 loan applications, including 31,000 owner occupied home purchase loan originations.
I have put together a table HERE which shows owner occupied loan home purchase loan originations for ALL borrowers and also shows a breakout of loans originated where there was either a Hispanic Borrower or Co Borrower.
FHA Had 38% Hispanic Market Share Vs. 24% Market Share for All Borrowers
The table shows that FHA had 24% of ALL owner occupied home purchase loan originations, but 38% of the Hispanic owner occupied home purchase market. That means that FHA had a 61% higher representation in the Hispanic owner occupied home purchase market than it had in the overall owner occupied home purchase market.
The table also shows owner occupied home purchase loan originations for conventional lenders, the Rural Housing Service, and Veterans administration.
Although loan numbers were small, Rural Housing Service programs also had higher representation in the Hispanic owner occupied home purchase market than their overall market share, while both VA and conventional loans were UNDER represented in the Hispanic owner occupied home purchase market.
Originally created and posted on the Oregon Housing Blog.
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